Illini Corp. CEO retiring

Monday

President and CEO Gaylon Martin has announced his retirement from Illini Corp. in Springfield effective Dec. 31.

President and CEO Gaylon Martin has announced his retirement from Illini Corp. in Springfield effective Dec. 31.

Illini Corp. is the holding company for Illini Bank and Farmers State Bank of Camp Point, near Quincy. The company has 13 branches in central and west-central Illinois.

Martin, who will remain on the board of directors, made the announcement as part the annual shareholders meeting. Shareholders also elected Martin and R. Neil Richardson to three-year terms as directors, said a bank announcement released Monday.

According to archives at The State Journal-Register, Martin was named president and CEO in 2004. He is a native of Jacksonville.

The company also reported record earnings of $2.961 million for 2010 at the annual meeting. The bank reported the rating firm of Seifried & Brew included Illini in the top 15th percentile of community banks based on an analysis of risks and returns.

Illini Corp. has $300 million in assets.

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